Saipem wins USD 2bn-worth of contracts across Middle East and Latin America

Submitted by Paddy Harris on Mon, 2014-10-27 17:10

27th October 2014

Saipem has been awarded an engineering and construction contract in Saudi Arabia and other new drilling contracts in the Middle East as well as Latin America that cumulatively total approximately USD 2bn

Saudi Aramco has awarded Saipem an EPC contract relating to the expansion of the onshore production centres at the Khurais, Mazajili and Abu Jifan fields.

The construction of new facilities will allow Aramco to process additional 300,000 barrels per day from the Khurais field, while the installation of new satellite facilities will reinstate production of 200,000 barrels per day from the Abu Jifan and Mazalij fields.

The Khurais field is located about 150-kilometres northeast of Riyadh and is 127-kilometres long and covering an area of 2,890 square kilometres.

Saipem already completed the installation of four separation units, all the utilities, the seawater treatment plant and various seawater pipelines at the Khurais facility.

"This new contract is the result of our successful project delivery in Saudi Arabia and strengthens our relationship with Saudi Aramco, a key client,” said Umberto Vergine, Saipem’s CEO.

“Saipem is highly committed to the development of the strategic Saudi’s national resources".

Furthermore in drilling, Saipem has secured a new contract for Perro Negro 7 jack-up, operating offshore in the Middle East, starting from November 2015 until the end of 2018.

Perro Negro 7 is a self-elevating drilling unit capable of operating in water depth up to 375 feet.

Saipem has also been awarded, by different clients, new contracts relating to nine onshore drilling rigs operating in the Middle East and in Latin America. The contracts have been signed under different terms, varying from three months to three years, and starting at different dates during 2014 and 2015.